First Direct Bank

2010

I understand that if you switch to FD they give you £100 and there`s no monthly fee as long as you pay in £1k a month.
But I also read that after six months they do charge a monthly fee of £10, is this correct?

Herbalus

2010 wrote: »

But I also read that after six months they do charge a monthly fee of £10, is this correct?

Not correct. They charge £10/month unless you deposit £1000 in that month or have an additional product, which can be a savings account with £1 in.

I'd go for the regular saver at 6% however!

grumbler

Herbalus wrote: »

I'd go for the regular saver at 6% however!

What do you mean? This account doesn't qualify for the Banking Fee Waiver.

Herbalus

grumbler wrote: »

What do you mean? This account doesn't qualify for the Banking Fee Waiver.

Does it not? I'll admit I haven't looked at the T+Cs, but I thought you just needed an additional account. It'd be surprising if the regular saver wasn't included! Happy to be proven wrong though.

grumbler

Herbalus wrote: »

Happy to be proven wrong though.

• Interest Rates and Charges

See "Banking Fee Waivers" on p.10

YorkshireBoy

Herbalus wrote: »

Happy to be proven wrong though.

Google "first direct banking fee waiver", click the first result returned, and be happy!

2010

I`ve just found more info, thanks for the replies:



You will not have to pay the Banking fee:

• for the first six months following account opening
• for any month in which you:
  • pay into your account* (other than by internal transfer from another first direct account) a minimum of £1,000 or you maintain an average monthly balance on your account* of £1,000 (month means calendar month and we will work out the average monthly balance by adding together the end of day balances for each day during the month and dividing the sum by the number of days in the month) or
  • hold a first direct mortgage, credit card, personal loan, savings account (*excludes Regular Saver Account), First Directory, or first direct car or home insurance policy;

Herbalus

I'm happy. Today is a day of learning!